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fxramper
Posts: 5837
Joined: Sun Dec 04, 2005 12:03 pm

FedEx Buys Rival Cargo In India.

Mon Nov 06, 2006 1:34 am

FedEx Corporation (NYSE: FDX) announced today that its FedEx Express unit has signed an agreement to acquire its Indian service provider, Prakash Air Freight Pvt. Ltd. (PAFEX) for US$30 million, payable in cash. The transaction, which is subject to customary conditions including Indian government approval, will further extend the FedEx leadership position in the global express industry with a wholly-owned operation in one of the world’s fastest growing markets.



  • FedEx was the first express company to introduce an all cargo flight in India in 1997.
  • FedEx began the first overnight express service between India and China in 2005.
  • FedEx was the first express air cargo company to operate two gateways in India (Mumbai and Delhi), with a total of 16 MD-11 flights in and out per week.


We might need a second Asia hub in years to come!  yes 

Source: Company mail.
 
atmx2000
Posts: 4301
Joined: Wed Oct 13, 2004 4:24 pm

RE: FedEx Buys Rival Cargo In India.

Mon Nov 06, 2006 1:51 am

If the company was FedEx's service provider, how could they be a rival?
ConcordeBoy is a twin supremacist!! He supports quadicide!!
 
FXfan
Posts: 83
Joined: Tue Oct 24, 2006 6:40 am

RE: FedEx Buys Rival Cargo In India.

Mon Nov 06, 2006 5:15 am

Where is the FX hub in Asia? Is it still at Subic Bay?